Lithuanian economy fell 1.7 percent on quarter in the three months to December 2022, in line with an earlier estimate and compared to an upwardly revised 1.6 percent growth in the previous month, the second estimate showed. This was marked as the first contraction in the GDP since Q2 of 2020, with the negative contributions coming from manufacturing (-2 percent vs 5.7 percent in Q3), agriculture, forestry & fishing (-9.3 percent vs 4.8 percent), and real estate activities (-1.3 percent vs -1.7 percent). On the other hand, increases were seen in construction (2.1 percent vs 0.7 percent) and information & communication (9.5 percent vs 8.9 percent). Year-on-year, GDP fell 0.4 percent, shifting from a downwardly revised 1.8 percent growth in Q3. source: Statistics Lithuania

GDP Growth Rate in Lithuania averaged 1.01 percent from 1995 until 2022, reaching an all time high of 4.40 percent in the first quarter of 2003 and a record low of -12.90 percent in the first quarter of 2009. This page provides - Lithuania GDP Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Lithuania GDP Growth Rate - data, historical chart, forecasts and calendar of releases - was last updated on March of 2023.

GDP Growth Rate in Lithuania is expected to be -0.40 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Lithuania GDP Growth Rate is projected to trend around 0.60 percent in 2024, according to our econometric models.

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Lithuania GDP Growth Rate



Calendar GMT Actual Previous Consensus TEForecast
2023-01-31 07:00 AM QoQ Flash Q4 -1.7% 1.6% -0.3%
2023-03-01 07:00 AM QoQ 2nd Est Q4 -1.7% 1.6% -1.7%
2023-05-02 06:00 AM QoQ Flash Q1 -1.7% -0.4%


Related Last Previous Unit Reference
GDP Growth Rate -1.70 1.60 percent Dec 2022
GDP Annual Growth Rate -0.40 1.80 percent Dec 2022
GDP Constant Prices 11640.50 11844.60 EUR Million Dec 2022
Gross National Product 53392.60 48075.60 EUR Million Dec 2021
Gross Fixed Capital Formation 2930.80 2826.00 EUR Million Dec 2022

Lithuania GDP Growth Rate
In 2015, Lithuania became the 19th member of Euro Area. Lithuania’s service sector constitutes the largest share of GDP with information and communication technologies being the fastest growing. Also, in recent years Lithuania has shifted towards a knowledge-based economy: several companies produce sophisticated biotech products like pharmaceutical substances, components for molecular diagnostics and laser equipment. On the expenditure side, household consumption is the main component of GDP and accounts for 63 percent of its total use, followed by gross fixed capital formation (19 percent) and government expenditure (17 percent). Exports of goods and services account for 81 percent while imports account for 79 percent, adding 2 percent of total GDP. On a production side, the wholesale and retail trade, transport, accommodation and food service activities sector is the most important and accounts for around 32 percent to total GDP. It follows by industry (23 percent of total GDP); manufacturing (19 percent); public administration, defence, education, human health and social work activities (14 percent); construction (7 percent); real estate activities (6 percent); professional, scientific and technical activities and administrative and support services (6 percent); information and communication (3 percent); agriculture (4 percent); financial and insurance (2 percent); and arts, entertainment and recreation, repair of household goods and other services (2 percent).
Actual Previous Highest Lowest Dates Unit Frequency
-1.70 1.60 4.40 -12.90 1995 - 2022 percent Quarterly
SA

News Stream
Lithuania GDP Confirms at 1.7% Fall in Q4
Lithuanian economy fell 1.7 percent on quarter in the three months to December 2022, in line with an earlier estimate and compared to an upwardly revised 1.6 percent growth in the previous month, the second estimate showed. This was marked as the first contraction in the GDP since Q2 of 2020, with the negative contributions coming from manufacturing (-2 percent vs 5.7 percent in Q3), agriculture, forestry & fishing (-9.3 percent vs 4.8 percent), and real estate activities (-1.3 percent vs -1.7 percent). On the other hand, increases were seen in construction (2.1 percent vs 0.7 percent) and information & communication (9.5 percent vs 8.9 percent). Year-on-year, GDP fell 0.4 percent, shifting from a downwardly revised 1.8 percent growth in Q3.
2023-03-01
Lithuania GDP Shrinks in Q4
Lithuania GDP shrank 1.7 percent on quarter in the three months to December of 2022, after an upwardly revised 1.6 percent growth in the previous period, a preliminary estimate showed. It was the first contraction in the GDP since the second quarter of 2020, with the negative contributions coming from the performance results of enterprises engaged in manufacturing, agriculture, forestry and fishing as well as real estate activities. On a yearly basis, the GDP contracted 0.4 percent, reversing from a downwardly revised 1.8 percent expansion in the third quarter.
2023-01-31
Lithuania Economy Shrinks 0.5% QoQ in Q2
Lithuanian GDP contracted 0.5 percent on quarter in the three months to June 2022, worse than a preliminary estimate of 0.4 percent fall, reversing from a downwardly revised 1.1 percent growth in the previous period. It was the first contraction in the GDP since the second quarter of 2020, with the negative contributions coming from manufacturing (-0.2% vs 2.5%), agriculture, forestry and fishing (-1.0% vs 0.4%), construction (-2.6% vs 3.2%), wholesale and retail trade (-1.7% vs -0.2%), and real-estate activities (-3.0% vs 0.1%). By contrast, increases were seen in financial and insurance activities (1.5% vs -0.1%); information and communication (0.8% vs -0.2%). On a yearly basis, the GDP expanded by 1.8 percent, the least since the first quarter of 2021, following a 4.8 percent growth in the first quarter.
2022-08-31